Company DescriptionCoinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin. Bitcoin is the world’s most widely used alternative currency with a total market cap of approximately $7.0 billion. The bitcoin network is made up of thousands of computers run by individuals all over the world.

Proceeds PurposesThe investment in the fund signals the belief among some venture capitalists and other players in the cryptocurrency and blockchain industry that the future will consist of multiple digital assets beyond the first one, bitcoin, and that one of the best ways to participate in the blockchain revolution is through investing in the tokens rather than in digital asset companies themselves.